The Nasdaq rose 0.9%, the S&P 500 added 0.8% and the Dow Jones industrial average tacked on 0.7%. Volume was tracking down from Friday's level for the NYSE, but it was up for the Nasdaq. The S&P 500 was back above its 50-day moving average after closing below it Friday, while the Nasdaq remained under its 50-day line.

Liberty Media (LMCA) jumped 3% in big turnover. The media stock, No. 16 in Monday's IBD 50 lineup, is trying to break out from a short cup-with-handle or a flat base.

Apple (AAPL) was slightly positive in fast trade after the stock slumped early and touched a new 10-month low. Citi on Monday downgraded the stock to neutral from buy, citing concerns about iPhone 5 demand. Meanwhile, Apple said it had sold more than 2 million iPhone 5 units in China in the first weekend of sales there. Apple's IBD Composite Rating has slumped to a mediocre 53 out of a best-possible 99.

Sturm Ruger (RGR), No. 7 in Monday's IBD 50 lineup, fell 1% in strong volume, dropping further below its 50-day moving average. The firearms maker has retreated as much as 8% below its recent buy point at 48.16, tripping a key IBD sell rule. Rival Smith & Wesson (SWHC) shed 4% in big turnover, falling to support near its 200-day line. Several published reports are predicting stricter gun policies following Friday's mass shooting in Connecticut.

Polaris Industries (PII) shed 2% in heavy volume, undercutting prior support at the 80 level. The maker of ATVs, snowmobiles and motorcycles continues to work on a new base.

In economic news, several reports are saying that over the weekend House Speaker John Boehner moved slightly closer to President Obama's position in their fiscal-cliff negotiations. Meanwhile, New York region manufacturing fell more than expected in December.

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Select market data is provided by Interactive Data Corp. Real Time Services. Price and Volume data is delayed 20 minutes unless otherwise noted, is believed accurate but is not warranted or guaranteed by Interactive Data Corp. Real Time Services and is subject to Interactive Data Corp. Real Time Services terms. All times are Eastern United States. *Reflects real-time index prices.